Which of the Following Customer Retention Measurement Methods Is Described

question 10

Multiple Choice

Which of the following customer retention measurement methods is described: the percentage of customers at the beginning of the year that are still customers by the end of the year?

• A) customer valuation
• B) retention rate
• C) complaint analysis
• D) defection rate
• E) benchmark

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Definitions:

Liquidated Damages

A predetermined sum of money agreed upon by the parties in a contract to be paid as compensation if one party breaches the contract.

Frustration of Purpose

A legal defense used in contract law where unforeseen events render the contract's purpose void and impracticable, absolving the parties from their obligations.

Coronation

The ceremony of crowning a sovereign or a sovereign's consort.

Equitable Remedies

Remedies granted by courts in cases where monetary damages are insufficient, often involving actions like injunctions or specific performance.